Well, I’m not sure that no one has made money publishing RPGs. Certainly some people have. But if we exclude the industry giants then yes, that may be the case, though even then, I think there are some independent publishers who are making a decent go of it. Evil Hat comes to mind. So when people say “you shouldn’t expect to make a living” I tend to agree, for most publishers that’s probably good general advice. However, some are making it, from what I understand, anyway. And I’m pretty sure that those who are do not put their products out as PWYW. Or if they do, those are teaser products that lead to others which cost a profit-making amount.